Pakistan’s Imports From Iran Increase by 25% in January

Pakistan’s imports from Iran have surged despite recent tension between the two countries. Pakistan’s imports from Iran increased to $104.2 million in January 2024, up 25 percent on a year-on-year (YoY) basis compared to $83.2 million in the same period last year. On a month-on-month (MoM) basis, imports from Iran witnessed a 17 percent increase from $89.2 million recorded in December 2023. This takes overall imports for July-January FY24 to $591.4 million, up 17.1 percent YoY compared to $505 million in 7MFY23. Officials from both Pakistan and Iran recently announced a comprehensive five-year plan aimed at enhancing trade cooperation between the two countries. The plan aims to increase bilateral trade to $5 billion by 2028.